Paul Gray's main area of practice is international finance where he focuses on leveraged real estate and structured finance transactions, including securitisations, loan on loan and portfolio sales, purchases, refinancings and restructurings.

His focus is on the real estate and sports sectors (he is the head of the International Sports Finance practice) where he has a pan-European practice covering jurisdictions that include Germany, Italy, France, Greece, the Netherlands and the United Kingdom. Paul represents corporates, private equity houses, hedge funds, institutional investors, investment and corporate banks and other financial institutions across the capital spectrum from distressed borrowers and investors through mezzanine to senior and super senior lenders.